2016$361,689

2017$393,797

2016 2017(estimate)

$260,982

$269,604 2014

$362,8682015

$367,6322016

$361,689

2017(ESTIMATE)$393,797

2018(FORECAST)$407,580

AVERAGE RESIDENTIAL SALE PRICE 2014-2017 AND OUTLOOK

Source: Historical values are sourced from CREA or local board statistics. Estimates and forecasts are based on the opinion of independent RE/MAX broker/owners and affi liates.

ONTARIO

Averageprice change: 3%

Average sale price for condos:

RETIREES,SINGLE MILLENNIALS

& YOUNG COUPLES

Typical condo buyer demographic:

Typical property type purchased by fi rst-time buyers:

Typical price range:

$250,000-$400,000

YOUNG COUPLES

Typical fi rst-time buyer demographic:

CONDO MARKET

FIRST-TIME BUYERS

FIRST-TIME BUYERS& MOVE-UP BUYERS

will drive demand in 2018

• The RE/MAX 2018 average residential sale price expectation for Ottawa is an increase of approximately 3.5 per cent

• Ottawa’s LRT system is expected to result in increased demand close to planned station stops, while a strong local economy in the region contributes to a positive real estate market outlook overall for 2018

Ottawa’s housing market was brisk in 2017 with move-over buyers taking advantage of the area’s relative affordability compared to the GTA. The condo market saw increased activity as demand caught up to the high levels of supply, following the completion of various development projects in recent years. Retirees looking to downsize

are expected to continue to drive demand in this segment of the market in 2018. Move-up and move-over buyers were very active in the luxury segment, resulting in a 71 per cent increase in sales for million dollar-plus properties between January and October in 2017 compared to 2016.

BALANCED MARKET

FUTURE TRENDS

9%AVERAGE RESIDENTIAL SALE PRICE CHANGE

OTTAWA

SINGLE-FAMILY DETACHED HOMES

TOWNHOMES

2018 HOUSING MARKET OUTLOOK